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The LAMEA smart home and buildings market is anticipated to grow at a CAGR of 31.9% during the forecast period. The need for conserving energy is now a global phenomenon. Governments are working on offering financial benefits such as tax rebates and subsidies to implement energy efficient products and solutions. All these regulations and initiatives encourage end-users to work towards conserving energy in the homes and buildings. Such moves from the governments around the world would drive the market for smart homes and buildings during the forecast period. High initial investment and slower perceived ROI is acting as the major restraining factors for the market growth. Therefore, investment in smart building technologies have witnessed a restraint. Consumers generally demand long serving products at affordable prices and smart homes and buildings use multiple technologies such as Bluetooth, GSM and Wi-Fi etc., which are currently not interoperable resulting in complicated operations, adding to the initial cost of adoption.
The report highlights the adoption of Smart Homes & Buildings market, in LAMEA (Latin America, Middle East and Africa) region. Based on the Components, the Smart Homes & Buildings Market is segmented into Energy management, Lighting control, Heating, ventilation and air conditioning (HVAC) controls, Appliance and entertainment control, Safety and Security and Home healthcare segments. Based on the connectivity, the Smart Homes & buildings market Bluetooth, Zigbee, Cellular Technology Technology markets. The market is further bifurcated into Government Organizations, Residential Users and Commercial User segments on the basis of the End Users. Based on the products, the market is segmented into Safety & Security, Controllers, Home Appliance & Entertainment Controllers segments. The Safety & Security Products/Devices Market segment is segmented as Surveillance Cameras, Door Locks, Smoke Detectors & Fire Sprinklers sub-segments. On the basis of type, Controllers segment is further bifurcated Light Sensors, Motion Sensors, CO2 Sensors, Dimmers, Timers and Energy Efficient Lights sub segments. Based on the End Users, the Home Appliance & Entertainment Controllers Market is segmented into Thermostats, Thermostats Products/Devices, Remote Controls and Smart Plugs & Energy Monitors sub segment.
On the basis of country, the market is further segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria and Rest of LAMEA. Key Players profiled in the report includes Cisco Systems, Control4 Corporation, Leviton Manufacturing Company, Inc, United Technologies Corporation, Emerson Electric Co., Honeywell International, Inc. and Siemens AG, Robert Bosch GmbH.